WINTON GROUP Ltd Takes $952,000 Position in Paymentus Holdings, Inc. $PAY

WINTON GROUP Ltd acquired a new stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 31,100 shares of the business services provider’s stock, valued at approximately $952,000.

Several other institutional investors and hedge funds have also bought and sold shares of PAY. Plato Investment Management Ltd purchased a new stake in Paymentus in the 3rd quarter worth approximately $33,000. Cliffwater LLC bought a new position in Paymentus in the 2nd quarter valued at $124,000. Advisors Asset Management Inc. grew its position in shares of Paymentus by 11.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 3,853 shares of the business services provider’s stock valued at $126,000 after purchasing an additional 403 shares in the last quarter. Vident Advisory LLC purchased a new position in shares of Paymentus during the 2nd quarter valued at $204,000. Finally, KLP Kapitalforvaltning AS increased its holdings in shares of Paymentus by 26.3% in the third quarter. KLP Kapitalforvaltning AS now owns 7,200 shares of the business services provider’s stock worth $220,000 after purchasing an additional 1,500 shares during the period. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Paymentus Price Performance

PAY stock traded up $0.22 during mid-day trading on Friday, hitting $24.34. 162,241 shares of the stock were exchanged, compared to its average volume of 759,689. The business has a fifty day moving average price of $26.67 and a 200 day moving average price of $30.98. Paymentus Holdings, Inc. has a 12 month low of $22.02 and a 12 month high of $40.43. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 46.76 and a beta of 1.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wall Street Zen upgraded Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. Wedbush decreased their target price on Paymentus from $40.00 to $32.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Paymentus in a report on Monday, December 29th. JPMorgan Chase & Co. lifted their price target on Paymentus from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $36.00 price objective on shares of Paymentus in a report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.50.

About Paymentus

Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.

Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.